SINGAPORE (Oct. 27, 2:40 p.m. ET) — Asia research & development budgets have been increasing in recent years in the field of plastics-based composites, according to Frederique Mutel, president and CEO of JEC Composites Group.
She also sees an increase in use of the plastic composite-based products globally, and especially in Asia.
Speaking to reporters at the recently held JEC Asia 2011 Composites Show & Conferences, Frederique said she expected further use of the composites in the nano-products in the coming years as R&D work proves it feasible.
The ongoing European and American economic woes would not impact much on the plastics composite businesses as prospects are increasing with more and more innovative products being introduced, she said.
JEC Asia 2011 registered a 10 percent increase in exhibition space and the attendance of 7,000 visitors, reflecting the robust demand in Asia, where the industry is currently valued at US$24.8 billion (RMB157.58 billion).
The growing Asian market was projected to make up 51 percent of the worldwide composites market by 2015.
“The composites industry is forging a bright future with efficient, sustainable innovations showcased at JEC Asia,” said Mutel after hosting the three-day event.
The event had participation from 345 companies, who were visited by 7,000 businessmen from 60 countries. Some 800 delegates attended the JEC Asia Innovative Composites Summit forums and conferences.